Radioio Inc (RAIO)

[rasta48]

IWDM announced quarterly earnings today. Before the sadness I want to bring you comic relief from the filing. Seems IWDM is in the "ramping up" phase!! "As a result of ramping up its operations as an Internet radio provider, the Company realized a net loss of $305,285 and $143,463 for the quarters ended June 30, 2013 and June 30, 2012, respectively"

Sales are down and expenses are up...That is with realizing almost $70k from EE program, we all know that money has been spent already.

More Dilution (even though the shares have not been issued)...On June 20, 2013 the Company entered into an agreement to issue 5,172,414 restricted common shares to Zanett Opportunity Fund, LTD for an additional investment of $30,000. As of August 12, 2013 the funds had been received but the shares had not yet been issued.

On April 20, 2013 the Company entered into an agreement to issue 6,000,000 restricted common shares to Zanett Opportunity Fund, LTD for an additional investment of $60,000. As of August 12, 2013 the funds had been received but the shares had not yet been issued.

The IO Live (bubba and some other no name shows) are not growing revenue...RadioioLive revenue consists of subscription and advertising fee revenue. Revenue decreased by $23,297, or 5.8%, for the three months ended June 30, 2013